Mel Gibson's church valued at 42m dollars

Washington, October 22 : Mel Gibson's church in Malibu has tax-free assets worth 42 million dollars, according to reports.

The assets in the Holy Family Catholic Church in California include artwork worth approximately 500,000 dollars, reports FoxNews.

According to the federal tax filings, the actor is said to have incurred three major expenses in the year 2007 that includes paying an architect and landscaper to help him keep building in and around the church.

The official findings, which have been made available online at guidestar.org, also revealed that the 52-year-old paid a law firm 69,000 dollars for its services.

However, the Catholic Church does not recognise the church, which has Gibson as its sole yearly contributor.

ANI